Xoom Money Transfer

steveinbsas

Registered
I'm curious about one thing you don't mention: In my transferring money to two different people in BA, they were hit with a banking fee that the banks said is a government fee, unavoidable. You don't mention this at all. Any idea how you're not charged a fee from the incoming bank?
The reason I didn't mention it is because I've never seen a charge for a "banking " or "government" fee in my Santander Rio account after making a transfer using Transferwise (and I just checked my account on line to be sure).

When I started using Transferwise, I made transfers in which the funds were "withdrawn" from my Charles Schwab checking account. A couple months ago I started using my Schawb debit card. The fee is slightly higher but the site says the funds will arrive much faster (about an hour) and they are always credited to my Santander Rio account before one PM. Only once has a transfer of funds that were "withdrawn" from my Schwab checking account NOT arrived the same day.

That being said, if you make a "wire transfer" Schwab's fee is $25 USD and I believe the receiving bank in Argentina also charges a fee.

I've never used the wire transfer option as the Transferwise fees for the amounts I transfer monthly are never greater than $15 USD.

PS: I have never transferred USD from the US to my dollar account with Santander Rio as the only way to so that (if I understand correctly) is to use the wire transfer option. I only transfer as much as I plan to spend in a month and occasionally I also withdraw cash in $4000 peso increments using ATMs in Argentina.
 
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artisans

Registered
Having just joined the 'manga de camaradas TransferWise' I have a few fresh observations to add: #1 TransferWise deducted their fee from the original amount and delivered the amount in pesos, less their fee. #2 I transferred US$ on two occasions to different Argentine friends with HSBC accounts here, receiving in pesos. First transfer was under 2000 usd and the second was over 2000 usd. The HSBC bank here did not charge any fee on either transfer. #3 In the under $2000 usd transfer I was able to provide my Citibank US debit card for the transfer. For the over $2000 usd transfer the Debit Card option is not offered (Transferwise only allows 2 options over $2000usd, Bank debit or Wire Transfer. I had to make a wire transfer from my own Citibank account to TransferWise bank account - cost from Citibank was US$17.50. #4 My Citibank account would not allow me to enter the Bank direct debit option on either amount. Under $2000 the debit card option and bank wire options were available. Over $2000usd - only the bank wire transfer was available. #5 The bank wire option increased the fee total to over U$50 (Citibank + Transferwise). #6 If you must use the Bank Wire method beware the mixed messages of TransferWise - while they do tell you have to go to your bank and set up a wire, the screen messages once you set up the TransferWise transfer online gives the impression that all is done. You might relax and think you're done, as I did. But no, you must make that wire transfer to TransferWise to make the money flow. #Last, HSBC finally opened my local bank account so I look forward to further experiments using TransferWise and/or bank transfers between my US HSBC account and the Argentina account.
 

wineguy999

Registered
The reason I didn't mention it is because I've never seen a charge for a "banking " or "government" fee in my Santander Rio account after making a transfer using Transferwise (and I just checked my account on line to be sure).

When I started using Transferwise, I made transfers in which the funds were "withdrawn" from my Charles Schwab checking account. A couple months ago I started using my Schawb debit card. The fee is slightly higher but the site says the funds will arrive much faster (about an hour) and they are always credited to my Santander Rio account before one PM. Only once has a transfer of funds that were "withdrawn" from my Schwab checking account NOT arrived the same day.

That being said, if you make a "wire transfer" Schwab's fee is $25 USD and I believe the receiving bank in Argentina also charges a fee.

I've never used the wire transfer option as the Transferwise fees for the amounts I transfer monthly are never greater than $15 USD.

PS: I have never transferred USD from the US to my dollar account with Santander Rio as the only way to so that (if I understand correctly) is to use the wire transfer option. I only transfer as much as I plan to spend in a month and occasionally I also withdraw cash in $4000 peso increments using ATMs in Argentina.
You may have just made a great ad for Santander Rio. Definitely going to check them out.
 

JELS

Registered
Thanks, Steve. Last question, I was almost placing a transferwise order when in the last step, it asked me for my CUIL. Did that happen to you? I do have a temporary CUIL, will that be OK? Thanks and sorry for so many questions. Regards.
 

MyArgentina

Registered
Not speaking to any particulars as I have not read them closely enough, but in my circumstance I have used TW to send monies to the bank ICBC here in BA (in USD). There was a bit of 'setup' that was necessary with TW (couple of phone calls and documents emailed / simple), but once that was in place, I have made several transfers very seamlessly. I receive confirmations from both TW via email and ICBC via email (asking for my me to reply with my CBU [whatever that stands for, but is readily visible in my account online]). ICBC does charge significant fees, but they are 'limited'. In other words, if memory serves, for transfers over $2 thousand US the fee I am charged by ICBC is around $150 US. Now that it is all setup, TW is by far the best solution I have found. I hope that this is helpful ...
 

MyArgentina

Registered
Of further note, the folks on the horn at TW are sharp, spot on and always seem to get to the heart of the matter - despite my (and our) semi-complicated circumstances ...
 

Jimbob

Registered
Galicia don't charge anything to receive money though transferwise. I send money from the UK every month.
 

steveinbsas

Registered
Thanks, Steve. Last question, I was almost placing a transferwise order when in the last step, it asked me for my CUIL. Did that happen to you? I do have a temporary CUIL, will that be OK? Thanks and sorry for so many questions. Regards.
Yes, I had to provide my CUIT/CUIL when setting up my Transferwise account...also the CBU for my Argentine bank account. If you provided your "temporary CUIL" when you opened your Argentine bank account, it should suffice to make the transfer. The CUIL number you provide TW should match the number that the bank accepted.

If you get a different CUIL with your DNI (and I have no idea if that will happen) you can notify the bank and Transferwise of the change so you will be able to continue to make transfers (hopefully) without any delays.
 

jantango

Registered
On the verification page:
To send more than €1,000 in a single transfer, you'll need to confirm your identity.
Upload your passport's photo page, driver's license or national ID card confirming your details as....

I set up a Transferwise account on 5/15/2019 and didn't provide any kind of ID since my transfer is always less than the limit above.

There was a small increase in fees on June 18th.
 
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